Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Markus11]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

because of NO prooven bad news;-)

[PoolMinor]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

Because it is in her plan, goddess Eris, of course.

[rpietila]

The most relevant fact to me is that people are being given crypto with monetary value and they aren't the ones paying for it. Human nature is such that we don't tend to value things we don't work for. This is why most lottery winners blow the money in a relatively short period of time and people who spend years saving money do not. 

+1 This is the reason why:

- No amount of income distribution can ever make the net recipients wealthy.
- Corollary: you cannot start an economy with a currency you just give away without the recipient doing work to receive it.

[PoolMinor]

The most relevant fact to me is that people are being given crypto with monetary value and they aren't the ones paying for it. Human nature is such that we don't tend to value things we don't work for. This is why most lottery winners blow the money in a relatively short period of time and people who spend years saving money do not.  

+1 This is the reason why:

- No amount of income distribution can ever make the net recipients wealthy.
- Corollary: you cannot start an economy with a currency you just give away without the recipient doing work to receive it.

From what I understood of the "experiment" it was a way of studying spending habits of a finite group as well as a marketing scheme to diversify current local business models. Both of these can easily be achieved by giving away non-earned monies.  (think of how coupons work)

[JorgeStolfi]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

It was almost exactly 2 pm in China when the buying started.  It is the eve of a long holiday. Perhaps some workers got the afternoon off, some shopkeepers closed shop for the day?

For whatever it is worth.

[matt4054]

FWIW I'm changing from HODL to BUY

[solex]

China is launching

[windjc]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

Well, it can't go up everyday.

If you look at the daily volume, you will see that this is shaping up to be the 3rd daily green candle in a row, each with descending volume. This is not bullish. On the Fib retracement levels, we have resistance at 2855 and 2925.

We would have to clear both of these before getting even remotely non-bearish.

Houbi will need increasing volume at some point on its way up. Otherwise we will consolidate again and the longer we do that the more suspectible to selling off we will be. There is more China news on the horizon.

Now its just a matter of how the market reacts to it.

[ShroomsKit]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

Because they will dump it again once the sheep did their job? Like the last 5 times we went up a bit?

[ShroomsKit]

China is launching

You know how it will end. In a dump or in China FUD resulting in a dump. I wish i could be excited as well.

[mooncake]

Huobi is leading Stamp! Traders, get in now before the Chinese snaps up all the coins!

[koryu]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

i know that people dont like altcoins in this subforum, but this time ltc has gone up first, then btc.
ltc rallys because its difficulty is reaching a new ath.

[billyjoeallen]

aaand the dump. Who coulda possibly saw that coming?

[solex]

You know how it will end. In a dump or in China FUD resulting in a dump. I wish i could be excited as well.

Yep. You are right.

[ShroomsKit]

Nice dump. Totally unexpected. The sheep fell for it again. Who would've guessed.

[magicmexican]

There is a new pattern with these sudden dumps and a recovery that started yesterday i think

[ShroomsKit]

Aha. Looks like there is some fresh China FUD incoming.
http://www.ccb.com/cn/home/personal/new_announce/20140430_1398824403.html

[windjc]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

Well, it can't go up everyday.

If you look at the daily volume, you will see that this is shaping up to be the 3rd daily green candle in a row, each with descending volume. This is not bullish. On the Fib retracement levels, we have resistance at 2855 and 2925.

We would have to clear both of these before getting even remotely non-bearish.

Houbi will need increasing volume at some point on its way up. Otherwise we will consolidate again and the longer we do that the more suspectible to selling off we will be. There is more China news on the horizon.

Now its just a matter of how the market reacts to it.

As I was saying...

[electronistul]

Anybody knows what just happened ? Some news / rumors / FUD /sheep-ism ? Why are people buying all of a sudden ?

i know that people dont like altcoins in this subforum, but this time ltc has gone up first, then btc.
ltc rallys because its difficulty is reaching a new ath.

So ... anyone want to comment on how will Scrypt ASICs impact the scrypt altcoin world vs. how SHA-256 ASICs impacted a (limited, at the time) SHA-256 alt-coin scene ?
Are we safe to assume that more than 70% of the Scrypt hashing power goes to mining LTC directly (what is this percentage, exactly?) so ... when difficulty shoots up (now, it seems) we will notice a significant change in the LTC/USD or LTC/BTC exchange rate ?
LE: scratch that, I'm a couple of days late already; dammit.

[koryu]

Aha. Looks like there is some fresh China FUD incoming.
http://www.ccb.com/cn/home/personal/new_announce/20140430_1398824403.html

perfect moment to release it as always